110 Oaks Ave SE · Mandan, ND 58554

$40,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 21 Days on market

Built 2008 Fair condition Est $40k · at est. $537/mo HOA · 27% of rent

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.6/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this 3 bedroom 2 bath manufactured home built in 2008 and freshly painted. The master bedroom has a bathroom and walk-in closet. There are two additional bedrooms and full bath. The kitchen and dining have many cabinets, newer appliances which include a gas stove. The front porch is covered, maintenance free decking and railings (not stairs) and there is an attached entry on the side that is insulated and ready to be finished to your needs. CAUTION ALLERGY: CATS

Key facts

• Walk-in closet
• Full bathroom
• Open layout

Tags

• OPEN LAYOUT
• SPACIOUS LIVING AREAS
• ABUNDANT CABINETRY
• GAS STOVE
• WALK-IN CLOSET
• FULL BATHROOM

Property features AI

Finance

• Other: Property located in Twin City Estates
• HOA & community: Homeowners association with monthly fee; Monthly association fee of $537; Association fee includes snow removal and trash

Exterior

• Parking: Driveway with concrete surface
• Utilities: Public water; Public sewer
• Home design: Residential mobile home (single wide); Shingle roof; Rectangular lot; Lot space is rented
• Construction: Vinyl siding
• Exterior features: Playground; Fire pit; Deck; Enclosed porch; Porch

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Ceiling fans throughout; Walk-in closet(s); Skylight(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $40k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $744 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 28.6% vs local median 2.7% in Mandan — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#76 in ND) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: crime C-, amenities F, commute F.
• Mandan 1 (suburban): math 35% / reading 38% proficiency, ranked #32 of 53 in ND (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mandan Middle School (math 36% / reading 40%, grade F, #21 of 35 statewide, top 59%, 928 students, 30% FRL); Mandan High School (math 18% / reading 42%, grade F, #90 of 144 statewide, top 66%, 1,138 students, 25% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents rising fast (+14.0%/yr); 304 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 94 units permitted in Morton County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Morton County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $8k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.93% ✓
• Cap rate: 28.60%
• Cash-on-cash: 79.66%
• DSCR: 4.54
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $40,128
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3103 Twin City Dr	0.10mi	3/2.0	1,120 (-8%)	1mo	$30,000	$27	82
111 Tuttle Ave	0.26mi	3/2.0	1,216 (0%)	16mo	$39,900	$33	74
3217 Twin City Dr SE	0.17mi	3/2.0	1,280 (+5%)	13mo	$74,900	$59	73

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 88.4%
• Equity multiple: 5.61×
• Total profit: $51,648
• Equity at exit: $5,964

10-year hold

• IRR: 93.2%
• Equity multiple: 14.82×
• Total profit: $154,817
• Equity at exit: $3,458

Cash invested: $11,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 82 Strongly Landlord-Friendly
• State North Dakota: 82 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

3-day notice; landlord-friendly.

Methodology + full state rankings →

ZIP-level market 58554

• Rents YoY: 14.0%
• Active inventory: 304
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,971 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$537
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $744

Break-even live

Break-even rent $1,030

Max offer price $40,000

Occupancy floor 57%

Sensitivity live

Price	-10% $771	-5% $757	+0% $744	+5% $730	+10% $716
Rent	-10% $588	-5% $666	+0% $744	+5% $821	+10% $899
Rate	-1.0pp $764	-0.5pp $754	base $744	+0.5pp $733	+1.0pp $723

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4430 21st St SE Mandan, ND	2.0	1.5	1173	$1,525	$1.30	22d	2	0.95mi
4302 Shoal Loop SE Mandan, ND	2.0	1.0–2.0	1063	$1,355	$1.27	22d	2	1.07mi
2303 Shoal Loop SE Mandan, ND	1.0–3.0	1.0–2.0	1088	$1,790	$1.65	22d	10	1.09mi
2508 Aquarius Ave Mandan, ND	3.0	2.0	1391	$2,795	$2.01	22d	1	1.12mi
2512 Aquarius Ave SE Mandan, ND	2.0	2.0	1289	$2,695	$2.09	22d	1	1.12mi
2516 Aquarius Ave SE Mandan, ND	2.0	2.0	1289	$2,695	$2.09	22d	1	1.13mi
2520 Aquarius Ave SE Mandan, ND	2.0	2.0	1289	$2,695	$2.09	22d	1	1.14mi
3923 Libra Bnd SE Mandan, ND	2.0	2.0	1289	$2,695	$2.09	22d	1	1.14mi
3816 Libra Bnd SE Mandan, ND	4.0	2.0	1391	$2,445	$1.76	22d	1	1.15mi
2300 46th Ave SE Mandan, ND	1.0–3.0	1.0–2.0	1050	$1,395	$1.33	22d	1	1.22mi
1825 Burnt Boat Dr Bismarck, ND	2.0	1.0	825	$1,045	$1.27	22d	2	1.27mi
4540 McKenzie Dr SE Unit 4 Mandan, ND	2.0	2.0	1159	$1,500	$1.29	22d	1	1.30mi
2304 Marina Rd SE Unit 1 Mandan, ND	2.0	2.0	1109	$2,300	$2.07	22d	1	1.30mi

HOA detail

• Monthly dues: $537 · $6,444/yr
• Likely covers: gas

Listing history 20 events

1. 2026-06-19
   days on market $40,000 Active 21 DOM
2. 2026-06-18
   days on market $40,000 Active 20 DOM
3. 2026-06-17
   days on market $40,000 Active 19 DOM
4. 2026-06-16
   days on market $40,000 Active 18 DOM
5. 2026-06-15
   price $40,000 Active 17 DOM
6. 2026-06-15
   days on market $48,000 Active 17 DOM
7. 2026-06-14
   days on market $48,000 Active 15 DOM
8. 2026-06-13
   days on market $48,000 Active 14 DOM
9. 2026-06-10
   days on market $48,000 Active 12 DOM
10. 2026-06-09
    days on market $48,000 Active 11 DOM
11. 2026-06-08
    days on market $48,000 Active 10 DOM
12. 2026-06-07
    days on market $48,000 Active 9 DOM
13. 2026-06-05
    days on market $48,000 Active 6 DOM
14. 2026-06-03
    days on market $48,000 Active 5 DOM
15. 2026-06-02
    days on market $48,000 Active 4 DOM
16. 2026-06-01
    days on market $48,000 Active 3 DOM
17. 2026-05-31
    days on market $48,000 Active 2 DOM
18. 2026-05-23
    listed $48,000 Active
19. 2021-06-16
    soldstatus 476-char remark

    Show marketing remark (476 chars)

    Check out this 3 bedroom 2 bath manufactured home built in 2008 and freshly painted. The master bedroom has a bathroom and walk-in closet. There are two additional bedrooms and full bath. The kitchen and dining have many cabinets, newer appliances which include a gas stove. The front porch is covered, maintenance free decking and railings (not stairs) and there is an attached entry on the side that is insulated and ready to be finished to your needs. CAUTION ALLERGY: CATS

20. 2020-08-26
    listed $39,900 476-char remark

    Show marketing remark (476 chars)

    Check out this 3 bedroom 2 bath manufactured home built in 2008 and freshly painted. The master bedroom has a bathroom and walk-in closet. There are two additional bedrooms and full bath. The kitchen and dining have many cabinets, newer appliances which include a gas stove. The front porch is covered, maintenance free decking and railings (not stairs) and there is an attached entry on the side that is insulated and ready to be finished to your needs. CAUTION ALLERGY: CATS

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,650
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,892
• − Management: −$1,892
• − HOA: −$6,444
• − Depreciation: −$1,164
• Taxable income: $9,218
• Est. tax owed @ 24.0%: −$2,212
• After-tax cash flow: $6,710/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and updates to improve its condition and value. Key areas for improvement include painting, updating fixtures, and landscaping.

Repairs flagged

• Minor kitchen cabinets — existing condition
• Minor bathroom fixtures — existing condition
• Minor exterior siding — existing condition
• Minor interior walls/paint — existing condition
• Minor landscaping — existing lawn

Value-add opportunities

• Resale paint interior walls — enhances curb appeal
• Resale replace carpet — improves comfort and appearance
• Resale update kitchen cabinets — modernizes space
• Resale update bathroom fixtures — modernizes space
• Resale update exterior siding — enhances curb appeal
• Resale landscaping — enhances curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · existing condition	Minor	$500–3,000
bathroom fixtures · existing condition	Minor	$500–3,000
exterior siding · existing condition	Minor	$500–3,000
interior walls/paint · existing condition	Minor	$500–3,000
landscaping · existing lawn	Minor	$500–3,000
Total estimated repair cost · 5 items		$2,500–15,000

Value-add ROI direction

• Resale paint interior walls — enhances curb appeal ↑
• Resale replace carpet — improves comfort and appearance ↑
• Resale update kitchen cabinets — modernizes space ↑
• Resale update bathroom fixtures — modernizes space ↑
• Resale update exterior siding — enhances curb appeal ↑
• Resale landscaping — enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Mandan 1
• NCES district ID: 3811820
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 38% ▼ -5.00%
• Median HH income: $60,131
• Composite: 32.55/100
• National rank: #5692
• State rank: #32 of 53 in ND

Livability — Mandan

• Score: 70/100
• State rank: #76
• US rank: #7567

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment A Housing A+ Health & safety D- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mandan, ND
• County: Morton County · 29,479 people
• City population: 29,479
• Metro: Bismarck, ND
• Population (ZIP): 29,479
• Household income: $80,120
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 915.0

Population outlook (Morton County) Hauer SSP2

• Today (2025): 36,682 people
• By 2030: 39,967 · +9.0%
• By 2040: 46,921 · +27.9%
• By 2050: 54,157 · +47.6%
• By 2075: 73,661 · +100.8%
• By 2100: 89,885 · +145.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Native American 4% Two or more races 4% Black 2%
• Common ancestry: Portuguese 14% Scotch-Irish 4% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Morton

• 2024 margin: Solid R (+53.8) · D 22.2% · R 75.9% · Other 1.9%
• 2008→2024 swing: -32.7pp toward R · 2008: -21.0pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+50.4 2016: R+53.0 2012: R+31.1 2008: R+21.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -161.81%
• Current HPI: 137.8984
• Rent YoY: ▲ 14.00%
• Metro: Bismarck, ND
• State GDP YoY: ▲ 2.09%
• F500 in state: 2

Industry mix (Fortune 500 HQ in ND)

Industry	F500 HQs	Revenue
▸Utilities / Construction	1	$6B

Price history

+20.3% since first listed

3 events — show timeline

• 2026-05-23 Listed $48,000 GNMLS
• 2021-06-16 Sold (MLS) — GNMLS
• 2020-08-26 Listed $39,900 GNMLS